Equity Investment Corp Increases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Equity Investment Corp lifted its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 26.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,870,734 shares of the real estate investment trust's stock after acquiring an additional 389,107 shares during the quarter. W. P. Carey makes up about 2.4% of Equity Investment Corp's investment portfolio, making the stock its 18th largest position. Equity Investment Corp owned approximately 0.85% of W. P. Carey worth $101,918,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the period. Victory Capital Management Inc. grew its holdings in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock valued at $34,507,000 after buying an additional 479,973 shares in the last quarter. FMR LLC increased its position in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after acquiring an additional 409,593 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of W. P. Carey by 274.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust's stock valued at $25,282,000 after buying an additional 297,432 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after acquiring an additional 264,230 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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W. P. Carey Trading Up 0.0 %

Shares of NYSE WPC traded up $0.01 during midday trading on Friday, reaching $64.22. The stock had a trading volume of 1,688,748 shares, compared to its average volume of 1,134,588. The company's 50 day moving average price is $56.77 and its 200 day moving average price is $57.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.68. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.48%. W. P. Carey's dividend payout ratio (DPR) is 168.42%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WPC shares. Scotiabank cut their price target on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays cut their price objective on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. Finally, Evercore ISI boosted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $62.38.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.